Should we wait and see how much further the euro-dollar pair can rise after rebounding for the first time in a week?

Should we wait and see how much further the euro-dollar pair can rise after rebounding for the first time in a week?

28.03.2025

In yesterday’s U.S. trading session, the Canadian dollar rose against the yen. The CAD/JPY pair climbed from 105.010 to 105.810. Price action was observed moving across the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, after breaking through the resistance line formed by the 200-period simple moving average (SMA), the upward trend has continued along the 20-period MA. Since the daily chart has hit a new high for the month, we should keep an eye on the upside potential for the Canadian dollar during U.S. trading hours.

Among European currencies, the euro rebounded against the U.S. dollar for the first time in seven days. The EUR/USD pair rose from 1.0733 to 1.0821. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price has rebounded from the -3σ level of the Bollinger Bands, and on the daily chart, it appears to have completed a retest of the 200-period simple moving average (SMA) and is once again entering an uptrend. We will monitor the euro’s upside potential during U.S. trading hours.

Today’s economic indicators include the Japan Tokyo CPI at 8:30, the UK trade balance, UK real GDP, UK current account balance, and UK retail sales at 16:00, the Germany GfK Consumer Confidence Index at 16:00, and the GermanyEmployment Report at 5:55 PM, the Eurozone Consumer Confidence Index at 7:00 PM, Canada’s Real GDP and U.S. Personal Income and PCE Deflator at 9:30 PM, the University of Michigan Consumer Sentiment Index at 11:00 PM, and remarks by Fed Chair Barr at 1:15 AM. We will carefully assess the upside potential for the euro/dollar pair, which rebounded for the first time in a week.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed